Tag: Rbi

Mumbai: To reverse the consumption slowdown and shore-up growth, the Reserve Bank of India on Friday reduced key lending rates for the fifth consecutive time. Accordingly, the the RBI’s monetary policy committee (MPC) in its fourth policy review of the current fiscal reduced the repo, or short term lending rate for commercial banks, by 25 […]

New Delhi: The Finance Ministry on Friday said the Reserve Bank’s decision to lower the benchmark lending rate will complement recent measures taken by the government to accelerate growth. Earlier in the day, RBI cut the repo rate by 25 basis points to 5.15 per cent. The government has noted the reduction in repo rate […]

Mumbai: Equity benchmark BSE Sensex plummeted 434 points on Friday, dragged by heavy losses in banking stocks after the RBI slashed the country’s economic growth outlook for this fiscal. In its fourth bi-monthly policy review, the central bank also reduced its benchmark lending rate by 0.25 per cent to revive growth that has hit a […]

Mumbai: Allaying fears of any threat to the banking system, Reserve Bank governor Shaktikanta Das on Friday asked the public not to panic as the entire banking system, including cooperative ones, continue to remain sound and stable. Das also said in the wake of the crisis at Punjab & Maharashtra Cooperative (PMC) Bank, the RBI […]

Mumbai: The transmission of past monetary policy easing have remained staggered and incomplete, the Reserve Bank of India said on Friday. According to the apex bank, the cumulative policy and repo rate reduction of 110 basis points in the last four reviews have led to a marginal decline of only 29 basis points in fresh […]

Mumbai: A recent survey conducted by the Reserve Bank of India (RBI) shows that the sentiment among the general public on the employment scenario in the country has declined significantly. The perception on the economic situation has also weakened, showed the survey. “Households’ sentiments on the general economic situation and the employment scenario declined further, […]

Mumbai: Domestic currency depreciated 13 paise to fall below the physiological mark of 71 a dollar on Monday. This comes after the Reserve Bank of India sharply lowered its FY20 growth forecast from 6.9 per cent earlier to 6.1 per cent. However, RBI expects 2QFY20 GDP growth at 5.3 per cent and it forecasts sharp […]

New Delhi: The Indian economy which has largely been subdued in the past few quarters and signs of a slowdown have cropped up, is likely to face several more risks in the near term, according to the Reserve Bank of India (RBI). The RBI in its Monetary Policy Report, October 2019, has also said that […]

Mumbai: Reserve Bank of India (RBI) has ruled out any special liquidity facility for Non Banking Financial Institutions (NBFCs) saying there is enough in the system to meet their needs for borrowings and it is for the lenders to take a call on lending to the NBFCs. “Reserve Bank’s position is that there is adequate […]

New Delhi: The Indian rupee is likely to continue its weak trend against the dollar due to a probable rise in volatility in the international financial markets. According to the Reserve Bank of India’s (RBI) Monetary Policy Report for October 2019, rising protectionism, slowdown in global trade may increase volatility in the financial markets. “The […]

Mumbai: The Reserve Bank of India on Wednesday rejected the merger of Lakshmi Vilas Bank and India Bulls Housing Finance Ltd, months after the bank had sought its approval on May 7. “The RBI vide their letter dated October 9, 2019, informed that the application for voluntary amalgamation of Indiabulls Housing Finance Ltd and Indiabulls […]

Mumbai: Equity benchmark BSE Sensex dropped over 150 points on Thursday tracking losses in banking stocks amid unabated foreign fund outflow. The 30-share index was trading 170.98 points, or 0.45 per cent, lower at 38,006.97 at 0930 hours. Similarly, the broader NSE Nifty fell 48.60 points, or 0.43 per cent, to 11,264.70. Top losers in […]

Mumbai: Indian banks’ credit growth rate, for the first time this fiscal, slowed to single digit at 8.8 per cent to Rs 97.71 lakh crore during the fortnight to September 27, according to the Reserve Bank of India supplementary data. During the same period, deposits climbed 9.4 per cent. Outstanding loans rose Rs 596.53 trillion […]

New Delhi: The Indian economy, which has been witnessing slowdown over last few quarters, is likely to face several more risks in the near future, with one of the major factors being drop in private consumption, according to the Reserve Bank of India (RBI). The RBI in its Monetary Policy Report, October 2019, has also […]

Mumbai: The Reserve Bank of India on Friday has changed the daily reporting system at cooperative banks after the collapse of Punjab and Maharashtra Cooperative Bank following the unearthing of over Rs 4,000 crore fraud there. In a circular addressed to chief executives of all cooperative banks, the RBI has asked them to replace the […]